Morgan Stanley

Wall Street's biggest investment banks are enjoying a record year for equities trading, driven by the global boom in artificial intelligence stocks, relaxed leverage rules and increased lending to hedge funds. Through the first nine months of 2026, the five largest banks generated $67 billion in equities revenue, with Goldman Sachs, JPMorgan Chase and Morgan Stanley accounting for $52 billion of that total.

Wall Street's largest banks, including Goldman Sachs, Wells Fargo and Morgan Stanley, are treating asset tokenization as a growth opportunity rather than a threat to their franchises, according to a report from CoinDesk.